Ukrenergo implements the corporate governance reform

Baker McKenzie, Kyiv, Ukraine,
Mon, Sep, 25, 2017

Ukrenergo implements the corporate governance reform

Kyiv, Ukraine, 19 September 2017 — Baker McKenzie has successfully supported Ukrenergo, one of the biggest state-owned Ukrainian power companies, in implementing the corporate governance reform to institutionalize the supervisory board and ensure that the company's management upgrated structure is in line with OECD guidelines.

The team has prepared the restated charter documents and represented the company in negotiations with the Ministry of Energy and Coal Industry of Ukraine up until adoption of the company's updated charter on 12 September 2017.

The Baker McKenzie team is led by Serhiy Piontkovsky, managing partner, and includes Andrii Moskalyk, senior associate, and Oleksandr Kez, associate.

Commenting on the news, Serhiy Piontkovsky noted: "This is an unprecedented case of developing a corporate governance structure and pioneering an independent board established at the state unitary enterprise. Baker McKenzie will continue to provide legal assistance to the company on its way towards corporatization and subsequent certification as a transmission system operator".

About Ukrenergo

UKRENERGO NPC SE is a power company responsible for operational and technological control of the Integrated Power System (IPS) of Ukraine and electricity transmission via trunk power grids from generating plants to distribution networks of regional electricity suppliers. The Company’s network includes eight regional power systems, covering the entire territory of Ukraine and employing over 13 thousand individuals.
(www.ua.energy)

About Baker McKenzie

Baker McKenzie helps clients overcome the challenges of competing in the global economy. We solve complex legal problems across borders and practice areas. Our unique culture, developed over 65 years, enables our 13,000 people to understand local markets and navigate multiple jurisdictions, working together as trusted colleagues and friends to instil confidence in our clients. (www.bakermckenzie.com)